• Vernon's Homepage
  • Kelowna's Homepage
32087
27907


S&P/TSX
13951.45
+65.02
+0.47%
S&P-CDNX
674.87
+9.73
+1.46%
S&P-500
2065.30
-10.51
-0.51%
NASDAQ
4775.36
-29.93
-0.62%
Dow
17773.64
-57.12
-0.32%
Dollar
0.7967
0.00
0.00%
Oil
45.99
-0.04
-0.09%
Gold
1249.50
+7.30
+0.59%
Silver
17.865
+0.312
+1.777%


Husky to develop Newfoundland oilfield

Husky Oil Operations Ltd., a subsidiary of Husky Energy (TSX:HSE), has been approved to develop the South White Rose Extension project off Newfoundland.

The Canada-Newfoundland and Labrador Offshore Petroleum Board made the announcement today for the project that's expected to cost about $1.2 billion.

South White Rose is estimated to contain about 33 million barrels of oil that can be recovered using subsea flow lines connected to the SeaRose production vessel.

Husky spokeswoman Colleen McConnell says first oil is expected by the end of next year.

The offshore petroleum board says the province and Ottawa have ratified the board's approval.

McConnell says the first phase will start this summer with the installation of gas injection equipment at the site 350 kilometres east of St. John's.



More Business News

30337
Recent Trending
31531
30523
Member of the RTNDA
32077
Press Room
30607